* ESL PARTNERS - ESL’S LETTER PROPOSED THAT SEARS HOLDINGS’ BOARD CONSIDER DIVESTURE OF ALL OR A PART OF ITS RIGHTS TO KENMORE BRAND NAME, RELATED ASSETS

* ESL PARTNERS LP SAYS PROPOSAL ALSO INCLUDED NON-BINDING INDICATION OF INTEREST TO ACQUIRE SHIP AND PARTS DIRECT FOR $500 MILLION

* ESL PARTNERS-PROPOSAL ALSO NOTES, IF SEARS BELIEVED IT WOULD BE HELPFUL, WOULD BE PREPARED TO SUBMIT PROPOSAL TO ACQUIRE ALL OR PORTION OF KENMORE Source text: (bit.ly/2vCezTA) Further company coverage: (Reuters.Briefs@thomsonreuters.com)